Refer to the game between James and Theodore depicted in Figure 12.2. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Right.
B. If James chooses Down, Theodore's best response is to choose Left.
C. If Theodore chooses Left, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Down.
You might also like to view...
The marginal cost of extraction of a nonrenewable resource increases with passage of time because:
a. the technology used in extraction depreciates in value. b. the price of the product that uses this resource decreases. c. the exchange rate in the international market appreciates. d. the tragedy of commons problem arises. e. the resource gradually becomes scarce.
A change in one input price will cause the slope of the budget line to change
a. True b. False Indicate whether the statement is true or false